Electric Construction Accounting | Step 3 | Analyzing and Closing Project Costs

Electric rates are driven by infrastructure spending to serve customers. Step 3 in costing that electric infrastructure is to analyze project costs and close work orders. This course shows you how.

Step 3 - Analyzing projects and closing work orders

Step 3 in costing the investment in electric infrastructure is to analyze project costs and close work orders. Where costs are recorded in the general ledger drives cost allocations in a cost of service study. This course shows you insights in best practices in closing work orders.
Standard construction units

What you'll learn in this course

  • You'll learn the fundamentals of analyzing electric system construction projects

  • You will learn about unitization and will unitize a construction project

  • You will learn about analysis tools (such as Handi-Whitman) for retirement work orders

  • Continuing property records will be introduced

  • You'll learn the detailed entries for retiring utility plant in service and recording salvage and cost of removal

  • You'll take a quiz to reinforce your knowledge of this topic

  • In this 30 minute class you’ll earn 1.32 continuing professional education credits.

This course is for you if

  • You work in the accounting or engineering departments and your job includes setting up or closing electric work orders

  • You're curious what the term "unitization" means and how it works

  • You train field crews on what is important on the "paperwork" side when they do electric construction projects

  • Your duties include setting up new continuing property records

  • You are an auditor of electric utilities or cooperatives and want insights into business processes in an electric work order system

Take the course today, benefit your organization, and build your knowledge and value! Get 50% off of the course fee when you take the Electric Construction Accounting course series - Steps 1 - 4. Use the code "workorder50" at checkout.

Meet your instructor!

Russ Hissom, CPA

Russ Hissom, CPA, is the owner of Utility Accounting Education Specialists (UAES). He has over 35 years of utility industry experience, serving as a partner in a national public accounting and consulting firm’s energy practice. Russ has worked with electric investor-owned and municipal utilities, and electric cooperatives, learning and leading industry best-practices. Russ brings this wealth of knowledge to every course, article, and book he develops. His speeches before national utility organizations share insights into helping utilities become more efficient and prepare for the “power and utilities organization of the future”. His goal is to provide value to you as an individual in your career development and to your utility/cooperative in these industry-focused areas.

Who should take this course?

  • Electric work order and fixed asset accountants

  • Finance managers

  • Engineering and design team members

  • Project managers charged with construction budget management

  • Electric construction team leads

  • Auditors of electric utilities and cooperatives

What background should I have to take this course?

  • No background in electric construction accounting is needed.

  • Some introductory knowledge of the electric industry is not necessary, but can help you experience more benefits from the course.

  • This class will show you how to analyze project costs for reasonableness before closing work orders. The course also shows detailed entries for retiring utility plant in service and recording salvage and cost of removal.

What you'll get from this course

  • Course resources

    Over 30 + pages of course materials, including detailed examples and reports

  • Continuing Education Credits - CPE

    1.32 credits of CPE - Final approval of a course for CPE credits is based on the requirements of each states’ regulatory body

  • Analysis and insights

    A step by step process for analyzing electric construction projects, best practices in unitizing and closing work orders, and template formats to follow for closing mass, non-mass, and retirement work orders

Take the course today, benefit your organization, and build your knowledge and value! Get 50% off of the course fee when you take the Electric Construction Accounting course series - Steps 1 - 4. Use the code "workorder50" at checkout.

Watch Intro Video

Course Highlights

Course Overview

6 videos with reference materials

  • 1

    Electric Construction Accounting | FERC | Analyzing and Closing Projects

    • Welcome to the class!

    • Here's a tour of the course player!

    • Course Introduction - What will I learn from this class?

    • Analyzing projects and closing work orders - additions, retirements, salvage, and removal costs

    • Course summary and key takeaways

    • Wrap-up Quiz - Analyzing project costs and closing work orders

Take the course today, benefit your organization, and build your knowledge and value! Get 50% off of the course fee when you take the Electric Construction Accounting course series - Steps 1 - 4. Use the code "workorder50" at checkout.

Complete one course and any future courses are 25% off!